On the negative side, Ford fell 4.6% after forecast a wider loss in its European segment. Seagate Technology declined 9.4% and BMC Software was down 6.3% after disappointing outlook from both the companies.

D.R. Horton Inc jumped 11.8% after the homebuilder’s quarterly profit more than doubled.

Investors will focus on an announcement from the Federal Reserve today as the Federal Open Market Committee is likely to renew its commitment to asset buying.

In Asia, shares rose on Wednesday in morning trade amid speculation the US Fed will renew its commitment to asset purchases today.

The MSCI Asia Pacific Index gained 0.5% to 132 as of 10:49 a.m. in Tokyo. Japan’s Nikkei 225 Stock Average rose 1.1%, headed for its highest close since April 2010. The broader Topix Index advanced 0.9%.

Australia’s S&P/ASX 200 Index gained 0.3%, rising for a tenth day and headed for its longest winning streak since October 2003. Taiwan’s Taiex Index climbed 0.2%.

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